Senior Living Construction Costs Brief Spring 2024

This special issue brief was prepared for the American Seniors Housing Association (ASHA) by Larry Graeve and Amy Burk of The Weitz Company.

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With the decline of contractor backlogs and architectural billings, we are seeing a softening of the commercial construction market. This does not mean doom and gloom for contractors as other sectors, such as industrial and infrastructure, remain strong. Overall, inflation remains above the Fed’s target of 2%, leading to the question, “How long will it take before we see a drop in interest rates?” Based on current data, we do not anticipate a rate increase in June but hope for a rate cut later this year. Many owners and developers are in a “hold” position, waiting for rates to improve before proceeding with new developments.

Check out and download our latest Senior Living Construction Costs Brief below!